Ryanair reports full year profit of €1.43 billion due to strong traffic recovery & favourable oil hedges
Ryanair Holdings plc today (22 May) reported a Q4 loss of €154m but a full-year PAT of €1.43bn, compared to a PY loss of (€355m), due to strong FY traffic recovery, improving fares, industry leading cost base and advantageous fuel hedges. 31 Mar. 2022 31 Mar. 2023 Change Load Factor 82% 93% +11pts Customers […]
Container Volumes at Port of Los Angeles Rise for Second Straight Month, But Pace Lagging Pre-Pandemic
Container volumes at the Port of Los Angeles showed improvement for the second consecutive month in April, although they continue to lag behind pre-pandemic levels. In April, the Port of Los Angeles processed 688,110 twenty-foot equivalent units (TEUs), a 22% decrease compared to the same period last year when the port had its second-busiest April […]
ACI World streamlines its resources for small and emerging airports
Airports Council International (ACI) World today announces the streamlining of its resources for small and emerging airports to foster their continued growth and sustainable development. The streamlining of resources, which includes certain programs and services at a lower rate, follows the ACI World Resolution “Support and assistance for small, emerging and regional airports,” approved at […]
Italy’s Exports to China Are Booming and It’s Not Clear Why
Italy’s exports to China have tripled in little more than a year. The problem is, even the experts are struggling to explain why. Shipments abroad rose above €3 billion ($3.3 billion) in February, up 131% from a year earlier. This follows another jump of 137% the month before. For comparison, Italy exported about €1 billion […]
Iran and the risks to commercial shipping
Friday saw a product tanker called Purity seized by Iran, a third ship in quick succession, putting commercial shipping on high alert. On May 3 this year, the Panama-flagged, Greek-owned tanker Niovi was seized in the Strait of Hormuz. This seizure came after Iran captured the Marshall Islands-flagged suezmax crude tanker, Advantage Sweet, six days earlier which has increased tensions […]
Emirates goes digital, phases out paper boarding passes for flights departing Dubai
Taking a step forward in its drive to offer customers the convenience and assurance of digitally enabled travel journeys, Emirates will require most passengers departing Dubai to use a mobile boarding pass instead of a printed paper version, from 15 May onwards. Passengers checking in at Terminal 3 will receive their mobile boarding pass via […]
Hapag-Lloyd Watching Costs as Container Market Normalizes
Hapag-Lloyd, one of the world’s leading container shipping companies, has reported its financial results for the first quarter of 2023, highlighting the impact of weak global demand on its performance. The company recorded an EBITDA of $2.4 billion (EUR 2.2 billion), a decrease in EBIT to $1.9 billion (EUR 1.7 billion), and a Group profit […]
Trade Tech ready for EU – Import Control System 2 (ICS2)
This is an article by our trusted partners at Trade Tech. Countries in the European Union have been developing a unified approach to what they call Import Control System 2 or ICS2. The go-live process has been set in three phases. Air express and Air mail went live a year ago, with the balance of […]
U.S. Launches $4 billion Effort To Electrify U.S. Ports, Cut Emissions
The Biden administration on Friday launched a $4 billion effort to electrify U.S. ports and cut heavy duty truck emissions as the government looks to address disproportionate impacts on nearby communities. The U.S. Environmental Protection Agency (EPA) said it was seeking input in its $3 billion Clean Ports Program to reduce pollutants at U.S. ports and its $1 […]
CMA CGM Commits to $5.5 Billion Bollore Logistics Buyout
French shipping group CMA CGM has committed to buy the logistics operations of family-run conglomerate Bollore for an enterprise value of 5 billion euros ($5.5 billion), the two companies said on Monday. CMA CGM granted the Bollore group an option to sell it the logistics business, which generated more than 7 billion euros in revenue last year and employs […]
